TRX

Tron plans to go public in the United States through a reverse merger

Tron announced plans to enter the U.S. capital market through a reverse merger with Nasdaq-listed SRM Entertainment.

Previously, the SEC had investigated Tron founder Justin Sun, accusing him of selling unregistered securities and manipulating the market; this investigation has now been paused.

It is reported that this transaction was facilitated by the New York boutique investment bank Dominari Securities, which is associated with Eric Trump and Donald Trump Jr., and Eric Trump is expected to join the new company as an executive.

Earlier, Dominari Securities' stock price rose significantly due to the Trump brothers joining the advisory board. However, while Eric Trump has stated that he is a fan of Tron and Justin Sun, he denied involvement in Tron's public listing plans.

Tron has chosen a reverse merger instead of a traditional Initial Public Offering (IPO). The new company, Tron Inc., will become the operational entity for Tron, and Justin Sun will initially invest $210 million worth of TRX. TRX is the eighth-largest cryptocurrency by market capitalization, currently valued at $26.5 billion, with a token price of $0.28, which saw a surge of 5% at the time of the announcement.

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